What is Aviation Product Liability Insurance?
Aviation Product Liability Insurance is liability insurance protecting the manufacturer of various parts which go into the aircraft manufacturing supply chain or parts and products that are ultimately use or installed on aircraft or within the aviation industry.
AIG designed its Aerospace Product Liability coverage specifically for Canadian aerospace companies. AIG Canada is a high-capacity provider that offers a full range of aerospace product liability insurance solutions for aircraft manufacturers, distributors, maintenance, repair, aviation companies, and overhaul operations.
Why does your organization need Aerospace Product Liability Insurance?
- Meeting the demands of prime contractors
- Protecting your balance sheet in the event of product failures
- Providing defence costs in the event of related legal actions
What does AIG Aerospace Product Liability Insurance cover?
- Third party bodily injury and property damage liability
- Grounding liability
- Third party war, hijacking, and terrorism liability
- Coverage for test, ferry, and demonstration flights
The AIG Advantage
- AIG’s experienced claims team provides Canadian aerospace clients up to a 50% advance of an agreed loss estimate – after coverage is confirmed – for property damage, clean-up costs and extra expenses within 7 days of covered events
- Provides clients 24/7 hotline access to responsive, dedicated claims professionals
- Includes claims professionals in early client meetings to help establish relationships and show capabilities
- Access to IntelliRisk®, AIG’s award-winning risk management information system to help with every step of the claim process for a erospace companies in Canada
- Engages claims and underwriting to enable full spectrum understanding of clients’ needs
- Addresses Canadian aerospace companies complex underwriting needs through deep industry experience, and claims and underwriting collaboration to create client-specific coverages
- Safety and loss control consultants to supplement a company’s safety department with surveys, program development, pre-audit evaluations, and educational resources
- Provides Canadian aerospace clients access to world-class multinational expertise, solutions, and service delivery in a globally consistent and seamless fashion
- Supports Canadian aerospace companies with one of the largest global networks in the industry spanning 215+ countries and jurisdictions